Italy woos Chinese to help restore crumbling treasures

Italy is looking to Chinese investors to secure the future of many of its crumbling archaeological sites.

Italy woos Chinese to help restore crumbling treasures
The Bourbon palace at Caserta is one of the sites looking for cash. Photo: Wikimedia Commons

Italian Culture Minister Dario Franceschini flew to China on Tuesday in order to promote a new system that will offer Chinese investors generous tax breaks if they invest in Italy's under-funded cultural sites.

The scheme will hand investors tax reductions of up to 65 percent if they pour cash into Italian heritage and will only be available to Chinese companies with registered offices in Italy.

“Attracting foreign investment has been, and will continue to be, one of the driving forces of this ministry,” Franceschini said in a statement on Wednesday.

There are seven key sites currently seeking substantial investment, including Emperor Hadrian's summer villa outside Rome, the Etruscan tombs of Cerveteri, the Greek temples in Agrigento and the former residence of the Bourbon kings of Naples in Caserta, Campania.

Italy's treasures are beset by funding shortfalls which are in no small part down to the incredible volume of historic sites the country has to maintain.

With 52 world heritage site, the country is the most Unesco-rich in the world. However, its sluggish economy has seen successive governments slash the culture budget. 

In addition, corruption and mismanagement has caused millions to disappear into thin air.

Earlier this year, it emerged houses were being rented for as little as €5 a month in the grounds of Caserta's Bourbon palace.

Italy is increasingly turning to the private sector to fund much-needed restorations.

Rome's Trevi Fountain recently underwent a €2.2 million face-lift funded by the fashion house, Fendi, and the Spanish Steps are currently being spruced-up by designers Bulgari.

During his time in Beijing, Franceschini also inaugurated a new programme aimed at attracting more Chinese visitors to Italy.

“A new scheme called 'China Friendly' will try to improve the offering of Italy's cultural destinations for Chinese visitors,” the Ministry said.

“It will also create new links between museums, towns and cities in both countries a bid to open up new destinations.”

The number of Chinese tourists visiting Italy has increased sharply in recent years and the Chinese are now the seventh largest national demographic visiting Italy, with over 2.2 million spending time in the country in 2014.

With the number of Chinese tourists on the rise, Beijing policemen were even called in to patrol top tourist sites in Milan and Rome earlier this year, in an attempt to help their travelling countrymen feel safer.  

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Italy’s Renzi wants ex-ECB boss Draghi to become prime minister: report

Ex-PM Matteo Renzi would like to see former European Central Bank chief Mario Draghi become prime minister of Italy, a party source told Reuters on Sunday.

Italy's Renzi wants ex-ECB boss Draghi to become prime minister: report
Matteo Renzi. Image: Andreas Solaro/ POOL / AFP

“I would say that is one of our proposals,” confirmed the source, who declined to be named.

The Italian government collapsed last week when PM Giuseppe Conte resigned. The former coalition allies are currently trying to come to an agreement and sort out their differences.

The centre-left government had been in turmoil ever since former premier Matteo Renzi withdrew his Italia Viva party earlier this month, a move that forced Conte to step down this week.

During the past year, Renzi frequently criticised Conte’s management of the pandemic and economic crisis.

Italy’s La Stampa newspaper also reported on Sunday that President Sergio Mattarella was considering Draghi for the prime ministerial role. However, Mattarella’s office promptly denied this, saying there had been no contact between them.

So far, there has been no comment from Draghi, who hasn't been seen much in the public eye since 2019.

Italy's president, Sergio Mattarella, gave ruling parties more time on Friday to form a new government, after the resignation of Prime Minister Giuseppe Conte. 

Coalition parties Italia Viva, the centre-left Democratic Party (PD) and anti-establishment 5-Star Movement must come to an agreement to allow the government to heal. 

Renzi, a former prime minister himself, has pubilcly stated that he does not want to talk about who should lead the next government at this stage, reasoning that the parties need to agree on a way forward first.

“Any effort today to fuel a discussion about Draghi is offensive to Draghi and above all to the president of the republic,” Renzi said in an interview published on Sunday with Corriere della Sera.

A senior Italia Viva lawmaker also told Reuters that “If the president gives a mandate to Draghi, we would certainly support this”. 

Renzi, whose party is not even registering three percent support in opinion polls, quit the coalition over Conte’s handling of the COVID-19 pandemic and his plans for spending more than 200 billion euros from a European Union fund to help Italy’s damaged economy.

READ ALSO: Why do Italy's governments collapse so often?